Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in

Gold and Silver Market morning, December 03, 2012

IMG Auteur
 
Published : December 03rd, 2012
473 words - Reading time : 1 - 1 minutes
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
Category : GoldWire

 

 

 

 

Gold Today –New York closed at $1,713.20 on Friday. This morning, Asian and London dealers lifted the gold price to $1.719.50. It was Fixed at $1,718.00 down on Friday’s p.m. Fix but up from New York’s lows then. In the euro it was Fixed at €1,317.586 down €12, while the euro was slightly stronger at €1: $1.3026. Ahead of New York’s opening, gold was almost the same as Friday morning’s level at $1,729.55 and in the euro at €1,327.67.


Silver Today – Silver closed in New York at $33.37 on Friday. In Asia and London’s start to the week, silver opened at $33.63 then slipped to $33.50 in London. It then traded at $33.50, ahead of New York’s opening.


Gold (very short-term)



Gold is expected to consolidate with a positive bias, in New York today.


Silver (very short-term)


Silver is expected to consolidate with a positive bias, in New York today.


Price Drivers


Gold & Silver – With the Technical picture still favoring the downside, traders and speculators in New York tried to push gold and silver prices down and succeeded in taking it to $1,713.21 a low higher than the previous couple of days at $1,705. So now we are in the consolidation phase again with a pennant shape forming. As this narrows so we must again prepare ourselves for a strong move, either way likely later in the week.


As Cyprus asks for a bailout this week, we see the Eurozone debt crisis continue. They need a bailout because the losses they suffered on their buying of Greek bonds and the haircut they had to take when the value of these dropped 75%. This domino effect will continue, exacerbated by the deepening recession in Europe making sure that this problem will not go away. The failure of the E.U. to stimulate growth effectively tells us that the crisis has years to run, at least.


Over in the States the harsh political structural realities point to a major confrontation pushing through to the last moment towards the brink of the ‘fiscal cliff’. Its votes that count not financial common sense! [Subscribe to our newsletters at www.GoldForecaster.com and www.SilverForecaster.com]


Silver – Silver’s fundamentals are looking very good indeed. With demand rising in the face of global economic growth and even in recession-bound Europe and investment demand solid in the face of the decaying developed world monetary system the prospects for silver in 2013 look good any which way you look at it. With costs of producing an ounce still a small percentage of the price, pure silver mining and silver/gold mining shares that pay dividends, look to lead the pack in 2013.


Regards,


Julian D.W. Phillips for the Gold & Silver Forecasters


Global Gold Price (1 ounce)

Today

3 days ago

Franc

Sf1,603.74

Sf1,596.84

US

$1,723.25

$1,719.25

EU

1,328.69

€1,322.25

India

Rs.92,542.83

Rs.92,607.40


 

 

Data and Statistics for these countries : Cyprus | India | All
Gold and Silver Prices for these countries : Cyprus | India | All
<< Previous article
Rate : Average note :0 (0 vote)
>> Next article
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
100 Items That Disappear First in a Disaster
23 Markevthorne
68, 69 probably not that safe - particularly if you're growing your own vegetables - keep a Maine Coon cat instead: does the job automatically.
Farage Interviews Le Pen: “Prison of the EU”
21 Marneville
BRITANNIA RULES THE WAVES AND NOW BREXIT WAIVES THE RULES. GO FOR IT FRANCE AND RID YOURSELVES FROM THE CHAINS OF IDIOTS. NOT SIN...
How the Fed Operates — And Why It's a Problem
20 Marramasart
In a nutshell, the Fed facilitates the theft of the value of the dollar, as they can control the increase in supply which at the same time inverts ...
How the Fed Operates — And Why It's a Problem
20 Marneville1
With all due respects for outlining how the crooked american Fed works or should work. From all our research we find the following the Fed...
Sparta - Gold prohibition in a collapsing economy
18 Markevthorne
You've answered none of the authors points: your comment is flat rubbish.
America Too Broke to Fix Crumbling Infrastructure? “Bridges, Roads,...
16 MarCameron Waugh1
Just like the leaders of the Bolshevik revolution were not Russians, those formulating belligerent US foreign policy are not Americans, and they ha...
POTUS at SOTUS
16 MarDRGEORGE1
Try explaining that to my patients dying on public waiting lists or getting ripped off by exorbitant private specialist fees!
POTUS at SOTUS
08 MarS W.0
I don't know what hallucinogens Dr G is on but my experience, both working in, and using the health system in Oz is that it is very bloody good.!
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS